Japan's Stimulus Package

TOKYO (Reuters) – The Japanese government is planning a supplementary budget of about 13.5 trillion yen ($87 billion) to fund a stimulus package aimed at supporting low-income households and alleviating the impact of rising prices, according to the Sankei newspaper.

Key Proposals

• Cash Assistance:

  • 30,000 yen ($193) for low-income households exempt from residential taxes.
  • 20,000 yen per child for families.

• Utility Subsidies:

  • Potential restart of subsidies for electricity and gas prices starting January to address escalating fuel costs.

Timeline

Prime Minister Shigeru Ishiba aims to finalize the stimulus package by November 22.

Exchange Rate: ($1 = 155.3700 yen)